GOOGL closed below its 200-day moving average after dropping more than 6% this week to 3:17, nearer its 52-week low than its high; a triangular pattern broke down against the prevailing uptrend, which is not good, with support at 300. The technical situation does not look good.

Google has done something similar in the past.

Now, technology companies like Netflix may be in this boat, but most likely you have Amazon, and Google in particular, and maybe Apple too, I do n't know, but maybe Disney too, along with traditional cable companies like Comcast and Fox, who are bidding for these rights.

Now, we move on to Google. The week started at 3:38 and the company will announce its earnings next week. The stock has fallen by more than 6% this week. It ended the week at 3:17.

I mean, you're closer to a 52- week low than you are to a 52- week high for Google. We'll see what they announce next week.

Now, the company will host " OpenAI" models. This is exactly what Amazon offers through its Bedrock platform, and also Microsoft Azure, so that OpenAI products are now available on all major clouds.

What this means is that if you are a developer or a company, instead of going directly to OpenAI, you may already have some of your applications or customer data inside the Google cloud.

Well, now you can simply integrate ChatGBT or OpenAI products directly on top of that. This is the future of distributing these models.

Google also announces its profits in just 5 days. We will have to do that from Las Vegas. You closed below your 200-day moving average. We have already discussed this. I don't know if I've talked about this much here on the channel, but I do provide technical analysis for Equity Empire subscribers every Saturday.

That video will be released to everyone tomorrow. We have already discussed these triangular patterns. So, you create these patterns and then you get a breakthrough. Oh my God, Google has gone downhill.

This is actually surprising. These patterns usually tend to break out in the direction of the prevailing trend. The prevailing trend was upward. The fact that the stock broke down is not good.

You have a support level here at 300, but at the moment, Google's technical situation does not look good.